Houlihan Lokey Advises Gresham Technologies

Houlihan Lokey is pleased to announce that, following a focused sale process, Gresham Technologies PLC (Gresham) has been acquired by Alliance Bidco (trading as Alveo), a company owned indirectly by funds managed or advised by STG Partners (STG), by way of a recommended scheme of arrangement. The transaction’s enterprise value is £141.9 million.

Gresham is a software company that specialises in providing real-time solutions for data integrity and control, banking integration, payments, and cash management. Gresham is headquartered in London and, prior to the transaction, was listed on the Main Market of the London Stock Exchange.

STG formed Alliance Bidco to acquire Alveo, an enterprise data management software platform that is uniquely focused on providing cleansing, validating, and normalising of market, pricing, and reference data for distribution to various systems within the post-trade processing ecosystem. STG is a strategic private equity firm with more than 20 years of experience investing in enterprise software and data-centric companies and approximately $10 billion of AuM.

The boards of Gresham and Alliance Bidco announced that they had agreed on the terms and conditions of the recommended cash acquisition on 9 April 2024. Following the approval of the U.K. courts, the transaction closed on 9 July 2024. STG believes that the acquisition represents an exciting opportunity to combine Gresham with Alveo and build a global and differentiated enterprise data management and governance platform for the capital markets tech ecosystem.

Houlihan Lokey acted as the exclusive financial and Rule 3 advisor to Gresham. This transaction further strengthens Houlihan Lokey’s position and expertise both in the FinTech sector and in executing public markets transactions.

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